archiveASEAN

BENGALURU: Emerging Asian equity markets opened the week higher on Monday, led by Taiwan tracking Wall Street gains, while Indonesian shares rose on strength in banking stocks. Most stock markets in the region were upbeat as an easing of trade tensions between the United States and China helped stir an appetite for risk among investors. Shares in Malaysia, Thailand and India added 0.7%, 0.1% and 1.3% respectively. “After a period of correction, ASEAN equities are showing upward momentum, having broken out of a technical downtrend that began from the 2017...

A decade ago, a traveler from Singapore visiting Bangkok or Jakarta would likely rely on U.S. dollars or a global credit card to settle the bill. Today, things are changing. A Malaysian tourist in Thailand can pay for street food by scanning a QR code, with money instantly debited from their account in ringgit and credited to the vendor in baht. Such small conveniences are part of a broader, quiet revolt in Southeast Asia – a concerted effort by regional governments to reduce their reliance on the U.S. dollar in...

BENGALURU: Indonesian equities rallied 4% on Wednesday after a period of relentless selling on worries over the country’s growth outlook and fiscal stability, though market participants cautioned the recovery might be short-lived. Sharp gains in banks across Southeast Asia, particularly Bank Central Asia and Bank Rakyat Indonesia, propelled the MSCI index of ASEAN equities by 1% to its highest level in more than two weeks. The two Indonesian banks account for roughly 6.7% of the index, while Indonesia’s overall weight in the index is 15%. Jakarta’s benchmark index rose to...